291
291
Dec 6, 2012
12/12
by
CNBC
tv
eye 291
favorite 0
quote 0
as soon as you get done figuring out, how much is sandy, how much is not sandy, we have to start dealing with the fiscal cliff so there's a shock behind us and a shock in front of us. so we're in limbo right now. and we're expecting a big effect from sandy in the friday number, especially in maybe the household survey, they moved the survey week back a week. because of an early thanksgiving. they do that -- so instead of it being the week of the 12th, it's the week of the 5th. >> so this number is going to tell us nothing tomorrow? > know there's going to be a lot of discussion about it. i'll stick to my guns, it's a 125 to 150 economy growth some of that could be sandy. i don't donknow if you want to k about that chart. this looks at the net effect acceptable. if 30% say it's acceptable and 20% say -- these are what we asked people. how many is that? that's five of eight different solutions. >> people say, yes, we're okay dealing with the fiscal cliff, if you raise taxes on those who make more than $250,000 and then you cap deductions, and virtually everything else is off the table. >>
as soon as you get done figuring out, how much is sandy, how much is not sandy, we have to start dealing with the fiscal cliff so there's a shock behind us and a shock in front of us. so we're in limbo right now. and we're expecting a big effect from sandy in the friday number, especially in maybe the household survey, they moved the survey week back a week. because of an early thanksgiving. they do that -- so instead of it being the week of the 12th, it's the week of the 5th. >> so this...
279
279
Dec 7, 2012
12/12
by
CNBC
tv
eye 279
favorite 0
quote 0
now, again, back to hurricane sandy. from the commissioner's statement, the storm we saw happen on october 29th, the next pay period ended on november 12th. the way bls essentially keeps score it says workers have to be off work for the entire pay period to be counted on the negative side. on the household survey side, persons who missed work for weather-related events are counted as employed whether or not they are paid for the time off. we did have a drop in the labor force participation rate, down 0.2 to 63.6%. how did we get to 7.7% unemployment? basically the number of unemployed persons dropped more than the number of employed and there were downward trends in both those categories. lots to chew on. back to you guys. >> hampton, thank you. we are kind of scratching our heads. let's get more reaction from our panel. mark zandi and jared bernstein are here with us. mark, what do you make of this number? we've set this up as numbers were not going to be things we watched closely because of sandy. >> i'd say two things
now, again, back to hurricane sandy. from the commissioner's statement, the storm we saw happen on october 29th, the next pay period ended on november 12th. the way bls essentially keeps score it says workers have to be off work for the entire pay period to be counted on the negative side. on the household survey side, persons who missed work for weather-related events are counted as employed whether or not they are paid for the time off. we did have a drop in the labor force participation...
263
263
Nov 29, 2012
11/12
by
CNBC
tv
eye 263
favorite 0
quote 0
. >> tom, right after sandy, a couple weeks ago or three weeks eeg y ago you were talking about sandy being twice the size of katrina but the wind speeds weren't as much and it wasn't going to affect all state. did you see christie and cuomo? are those real numbers? is that what they'd like to see from the feds or is it worse than what you thought on november 1st? itz's worse than what we thought out. it will cost us 1 billion 75 doll lars. it is a significant event. it's significant flooding. that's not typically konked by us but by the government if you buy their policy. unfortunately very few people buy coverage. so unfort flatly there's a bunch of people whose homes got wrecked and that's what cuomo and christie are seeking. our government has a hit of going back to the state and saying, sorry you didn't buy insurance, here's some money and they'll do it again. they're trying to negotiate as to how much they get. >> allstate's ceo tom wilson. we appreciate your time. >> thank you. >>> when we return, we'll have gene ludwig. he will be our special guest. also at the bottom of the h
. >> tom, right after sandy, a couple weeks ago or three weeks eeg y ago you were talking about sandy being twice the size of katrina but the wind speeds weren't as much and it wasn't going to affect all state. did you see christie and cuomo? are those real numbers? is that what they'd like to see from the feds or is it worse than what you thought on november 1st? itz's worse than what we thought out. it will cost us 1 billion 75 doll lars. it is a significant event. it's significant...
211
211
Nov 30, 2012
11/12
by
CNBC
tv
eye 211
favorite 0
quote 0
and a lot of companies were saying it was just superstorm sandy. it shut down the stores in some cases or kept consumers at bay. how do you think we will fare to the holidays? >> yesterday was big day for retail. those that roar yesterday, genuinely speaking had poor numbers. we knew it was the hurricane. we knew it would be weak. you know. it was supposed to be adjusted in the expectations. numbers came in way below expectations. some of the stocks got hammered, macy's, kohl's. we are trying to make sense of what that means. we when you go through each retailer in the numbers, really the first half -- businesses really slowed. first two weeks. anything we think of, not the hurricane itself. must have been the concern, you know, about the hurricane and people watching tv. people focused on that. also, you know, with the election people focused on that. you know. so the first two weeks are weak. last two weeks seem to come back and be fairly decent. >> so you think that for the holiday shopping season, that the -- better trend will continue? where d
and a lot of companies were saying it was just superstorm sandy. it shut down the stores in some cases or kept consumers at bay. how do you think we will fare to the holidays? >> yesterday was big day for retail. those that roar yesterday, genuinely speaking had poor numbers. we knew it was the hurricane. we knew it would be weak. you know. it was supposed to be adjusted in the expectations. numbers came in way below expectations. some of the stocks got hammered, macy's, kohl's. we are...
206
206
Dec 4, 2012
12/12
by
CNBC
tv
eye 206
favorite 0
quote 0
of sandy jobless claims relative to katrina. if we don't have that chart -- there it is, great. it goes up and now we're in the down. it may pop back. but the trouble is that the big surge there is probably in the week of -- or is going to affect the week of the employment survey. >> the last week. >> and now, guys, if you have the next one back there, i don't know if you have it, you can see there what we show there is we're looking for only 80,000 jobs on friday. 95 in the private sector. that's a big jobs -- it might be hurricane related, but it could also be cliff related. there's these two things just backing up what joe said, folks, we've got enough to worry about without the stuff that we could probably fix and move on, there's enough going on. you can see that we're going to be substantially below the six-month average that we've been running there. and that shows that, you know, we were not robust to begin with, and this is why guys at the fed are concerned about things like this. if you're going 3% or 4% gdp, you have
of sandy jobless claims relative to katrina. if we don't have that chart -- there it is, great. it goes up and now we're in the down. it may pop back. but the trouble is that the big surge there is probably in the week of -- or is going to affect the week of the employment survey. >> the last week. >> and now, guys, if you have the next one back there, i don't know if you have it, you can see there what we show there is we're looking for only 80,000 jobs on friday. 95 in the private...
202
202
Dec 5, 2012
12/12
by
CNBC
tv
eye 202
favorite 0
quote 0
you have fiscal cliff, you have hurricane sandy. are you optimistic about what's happening in the economy if you take out the potential shocks? >> i don't think we make any change at all. i think the job market is producing 150,000 jobs per month, that's what we've been producing since the beginning of the year, over the past year, past two years, some months we're a little lower, higher, sometimes seasonal adjustment. if you take this month's number and x out sandy, that's over 200,000. >> that will add some jobs, that's not a fair comparison. >> so 200,000 minus 60 is 150 -- >> so you're right there. >> i don't think the economy has chang chang changed deappreciably over the last year. >> well, i think coming into friday's number, we're a little -- we don't think there's 80,000 worth of impact, might be closer to 40,000 or 50,000. whatever, there's been an impact and i agree with mark's point, 1 in about 150,000 job creation in the economy and i don't know that meaningfully changes. but i would say, if anything, the bias next year
you have fiscal cliff, you have hurricane sandy. are you optimistic about what's happening in the economy if you take out the potential shocks? >> i don't think we make any change at all. i think the job market is producing 150,000 jobs per month, that's what we've been producing since the beginning of the year, over the past year, past two years, some months we're a little lower, higher, sometimes seasonal adjustment. if you take this month's number and x out sandy, that's over 200,000....
324
324
Dec 3, 2012
12/12
by
CNBC
tv
eye 324
favorite 0
quote 1
some of that is attribute knowledge to superstorm sandy. an estimated quarter million vex were destroyed. those numbers will be out this morning. it would only say that it is speaking to, quote, interested parties. but delta air lines is involved in those sdgzs. virgin is the second largest airline at heath row. >>> and lenny dykstra will be sentenced today. he was found to have hidden and stole sports memorabilia other items that were supposed to be part of a bankruptcy filing. >>> the game of political chicken, we were looking to rise above the partisan politics and trying to get something done. david walker, ceo of the america comeback initiative, steve mcmahon, co-founder of purple strategies, you guys have been on for a while and we've talked about a lot of things. steve, just 1:30 ag ago, you made a point talking about the bush tax cuts. and i said the tax cuts have been near and dear and you said at least bush was smart enough to know that we couldn't afford them so they were sunseted. >> so they were sunseted. >> that may happen. in
some of that is attribute knowledge to superstorm sandy. an estimated quarter million vex were destroyed. those numbers will be out this morning. it would only say that it is speaking to, quote, interested parties. but delta air lines is involved in those sdgzs. virgin is the second largest airline at heath row. >>> and lenny dykstra will be sentenced today. he was found to have hidden and stole sports memorabilia other items that were supposed to be part of a bankruptcy filing....